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easyJet warns of deepening first half loss; stocks tumble 16%, worst since 2004

easyJet warned that first half losses may double in 2011 to between GBP140 million and GBP160 million, compared to a pre-tax loss of GBP78.9 in the previous corresponding period. Reasons include increasing fuel costs, an uncertain economic outlook and the impact of poor weather. easyJet however stated it remains “on track to be profitable again this year” adding that it has posted a first-half pretax loss for the last eight reporting periods while recovering to record a full-year profit.

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